There is no real resolution. They just kicked back the date to February to buy more time. In actuality, they're just delaying the inevitable. The debt ceiling is so high that they should've just defaulted. The longer the delay, the more the pain racks up.
literally everything would collapse if that were the case
have u ever missed payments on a credit card or decided not to pay for it whatsoever? big consequences huh; you can't really do shit, buy anything expensive in the future, or take out a loan for a car/repair/business/house.
ya now imagine that for the US of A LOL
edit- for emphasis u know what counties have defaulted and what happened to them? here's one: zimbabwe ROFL
Originally posted by t-rogdor
i finally got a weed hookup again and i texted the dude asking where to meet him tomorrow and the dude just said "out west"
dude
out west?
the fuck kinda location is west?
am i buying weed off a gotdamn pirate
Originally posted by lurker
remind everyone that i am an outed racist neo-nazi who no one in their right mind should ever interact with in any way whatsoever
The debt ceiling is so high that they should've just defaulted. The longer the delay, the more the pain racks up.
No, no, no -- you do not want the US to default.
Besides, our debt is not a huge problem right now. It is a huge number, yes, but our debt is super cheap, our GDP is very large, and we've been handling debt/interest payments like these for many years running without much issue (seriously, go look at the numbers right now. Smaller than you thought, right? Also note how this goes way back past the 90's, the 80's, etc.). The priority is to not let it grow to the point where it becomes a problem. We are not in a debt crisis.
The math is not terribly hard to figure out -- the problem is ideology.
Besides, our debt is not a huge problem right now. It is a huge number, yes, but our debt is super cheap, our GDP is very large, and we've been handling debt/interest payments like these for many years running without much issue (seriously, go look at the numbers right now. Smaller than you thought, right? Also note how this goes way back past the 90's, the 80's, etc.). The priority is to not let it grow to the point where it becomes a problem. We are not in a debt crisis.
The math is not terribly hard to figure out -- the problem is ideology.
I'm not saying anyone -wants- a default, I'm just saying it's hard to ignore 16 trillion dollars or so of debt. Tell me how that's not much of an issue. You can't say that is "not a debt crisis". It's already grown to become a big problem.
I'm not saying anyone -wants- a default, I'm just saying it's hard to ignore 16 trillion dollars or so of debt. Tell me how that's not much of an issue. You can't say that is "not a debt crisis". It's already grown to become a big problem.
I was going to write up a big thing but figured it'd be easier to just show you a video. It's a bit old but the logic still applies:
The national debt is not "debt" as most people think of it: It's not like, say, a random person who owes a credit card company $200k or something insane. The mechanics are quite different.
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